Project Methodology – What is Project Management?


Project Methodology – What is Project Management?

Project Management is the application of knowledge, skills, tools and techniques to project activities to meet project requirements. One has to select the proper  project methodology.

Project management is accomplished through the use of the processes such as:

  • Initiation
  • Planning
  • Execution
  • Controlling
  • Closing

project methodology

Project managers or the organization can divide projects into above phases to provide better management control with appropriate links to the ongoing operations of the performing organization. Collectively, these phases are known as the project management life cycle.

Project managers deliver projects to gain Customer Satisfaction while balancing the following constraints:

  • Scope
  • Schedule
  • Quality
  • Resources
  • Budget
  • Risk

Project Management

These all are so intertwined that a change in one will most often cause a change in at least one of the others.

For example:

  • If time is extended, the cost of the project will increase.
  • If time extended with the same cost then quality of the product will reduce.
  • If scope is extended then cost and time will also extend.

Changes to any of these legs sets off a series of activities that are needed to integrate the change across the project.

Benefits of Effective Project Management:

  • Exponential expansion of human knowledge
  • Global demand for goods and services
  • Global competition
  • Team is required to meet the demand with quality and standard.
  • Improved control over the project
  • Improved performance
  • Improved budget and quality

Interpersonal Skills Management:

  • The management of interpersonal relationships includes:
  • Effective communication: The exchange of information
  • Influencing the organization: The ability to “get things done”
  • Leadership: Developing a vision and strategy, and motivating people to achieve that vision and strategy
  • Motivation: Energizing people to achieve high levels of performance and to overcome barriers to change
  • Negotiation and conflict management: Conferring with others to come to terms with them or to reach an agreement
  • Decision Making: Ability to take decision independently.
  • Political and cultural awareness: Important to handle various personal and professional issues.
  • Team Building: Ability to create a productive team.

For more project management and project methodology related information, please visit our Training & Development Section.

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